Page 18 - Jan Hoffmann News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight, disrupting already strained maritime trading routes, according to UN agency UNCTAD. UNCTAD, the United Nations Conference on Trade and Development, which supports developing countries in global trade, warned of risks of higher inflation, uncertainty of food security and increased greenhouse gas emissions, Reuters reported.

Since attacks by Yemen’s Houthi rebels on ships in the Red Sea began in November, major players in the shipping industry have temporarily halted using Egypt’s Suez Canal.

The U.N. trade body has sounded an alarm that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Jan Hoffmann, a trade expert at the United Nations Conference on Trade and Development known as UNCTAD, warned that shipping costs have already surged and energy and food costs are being affected, raising inflation risks. Since attacks by Yemen's Houthi rebels on ships in the Red Sea began in November, he said, major players in the

Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight…

UNCTAD is warning of higher inflation, uncertainty of food security and higher greenhouse gas emissions